ipodeckby IPO Central
Lead Managers

Horizon Management: IPO Track Record

SME only, and the only lead manager on all 28 IPOs. 13 opened above the issue price and 13 closed below it; since 2025, 6 of 17 have opened above it.

Listed IPOs
28
28 SME
Amount raised
INR 1,369.75 crore
2023 to 2026
Median gain at open
0%
listing day, vs issue price
Median gain at close
+2.58%
listing day, vs issue price
Opened above issue price
46.43%
share of listings
Closed below issue price
46.43%
on listing day
Median subscription
20.81x
total, final day
Vs same-year IPOs
-3.34
percentage points; median gap at open

Best listing: Veritaas Advertising (+141.23% at open, 21 May 2024). Weakest: MVK Agro Food (-34.17% at open, 7 March 2024).

An IPO with several lead managers counts towards each of them.

Year by Year

YearIPOsMedian gain at openMedian gain at closeOpened above issueMedian subscription
20265-2.50%+2.37%20%5.49x
2025120%-3.73%41.67%20.81x
20249+14.54%+20.26%77.78%198.08x
20232-10%-14.50%0%33.59x

All 28 IPOs Managed

IPOListedSegmentIssue price (INR)Issue size (INR crore)SubscriptionOpen (INR)Close (INR)Gain at openGain at close
Paluck Technologies4 September 2026SME (BSE)4833271.72x46.8049.14-2.50%+2.37%
Atharva Poly-Plast7 July 2026SME (BSE)602710.81x6972.45+15%+20.75%
Value 360 Communications11 May 2026SME (NSE)9841.691.25x78.4082.30-20%-16.02%
Shayona Engineering30 January 2026SME (BSE)14414.865.49x1441510%+4.86%
Yajur Fibres14 January 2026SME (BSE)174120.411.38x139.20132.25-20%-23.99%
MethodHub Software12 December 2025SME (BSE)194102.4928.98x155.20162.90-20%-16.03%
Clear Secured Services8 December 2025SME (NSE)13285.608.91x119113.05-9.85%-14.36%
Workmates Core2Cloud18 November 2025SME (BSE)20469.84141.45x387.60368.25+90%+80.51%
LT Elevator19 September 2025SME (BSE)7839.37183.03x136.10142.90+74.49%+83.21%
Parth Electricals & Engineering11 August 2025SME (NSE)17049.6723.85x174182.70+2.35%+7.47%
Swastika Castal28 July 2025SME (BSE)6514.075.13x6766.82+3.08%+2.80%
Neetu Yoshi4 July 2025SME (BSE)7577.04128.26x105110.25+40%+47%
Divine Hira Jewellers24 March 2025SME (NSE)9031.843.96x9085.500%-5%
Super Iron Foundry19 March 2025SME (BSE)10868.051.62x107.95102.60-0.05%-5%
Swasth Foodtech28 February 2025SME (BSE)9414.927.88x9489.300%-5%
Rexpro Enterprises29 January 2025SME (NSE)14553.6517.77x117111.15-19.31%-23.34%
Citichem India3 January 2025SME (BSE)7012.60414.40x7068.280%-2.46%
Abha Power and Steel4 December 2024SME (NSE)7538.5417.55x81.9077.80+9.20%+3.73%
Onyx Biotec22 November 2024SME (NSE)6129.34198.08x54.0556.75-11.39%-6.97%
Thinking Hats Entertainment3 October 2024SME (NSE)4415.09322.35x6057+36.36%+29.55%
Osel Devices24 September 2024SME (NSE)16070.66194.31x198.05207.95+23.78%+29.97%
Forcas Studio26 August 2024SME (NSE)8037.44417.05x152144.40+90%+80.50%
Tunwal E-Motors23 July 2024SME (NSE)59115.6412.18x6460.80+8.47%+3.05%
Veritaas Advertising21 May 2024SME (NSE)1148.48621.69x275261.25+141.23%+129.17%
Shree Karni Fabcom14 March 2024SME (NSE)22742.49295.84x260273+14.54%+20.26%
MVK Agro Food7 March 2024SME (NSE)12065.888.51x7982.95-34.17%-30.87%
Baba Food Processing15 November 2023SME (NSE)7632.8865.98x7672.200%-5%
Cosmic CRF30 June 2023SME (BSE)31457.211.21x251.20238.65-20%-24%